Treasury Secretary Timothy Geithner said Thursday he'll stay in his job for the "foreseeable future," addressing speculation he might leave the Obama administration following the current round of budget negotiations.

"I live for this work. It's the only thing I've ever done. I believe in it," Geithner said when questioned about his plans by former President Bill Clinton onstage at a meeting of the Clinton Global Initiative.

"We have a lot of challenges in the country and I'm going to be doing it for the foreseeable future," he said.

On Thursday, The Associated Press quoted someone close to Geithner, 49, who said he might leave after the budget negotiations are complete, but the source emphasized no decisions had been made. The person spoke on condition of anonymity to discuss private deliberations.

Geithner said he'd been commuting back and forth from New York and had a son who was going to be finishing high school there.

The treasury secretary repeated his dire warnings Thursday of financial chaos if the federal government's debt limit is not raised by Aug. 2. Along with other administration officials, he is in negotiations to meet that deadline.